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Finance director reviews second-quarter FY25 results; overall spending near 50% of budget
Summary
Finance Director David Little presented second-quarter fiscal-year 2025 results showing the city at about 50.65% of projected budget through December, explained timing-driven variances in revenue and expense lines, and said the draft audit was sent to auditors for review.
Finance Director David Little presented the City of Bangor’s second-quarter financial results for fiscal year 2025 to the Finance Committee on March 3, reporting that overall spending and revenues are roughly at the expected midyear level.
Little said, “If everything was spent on a regular basis, we would be at roughly 50% of our budget through the December.” He reported the city’s total budget position through December at 50.65% of projected budget. On the revenue side Little said property taxes appear at 95% of the full budget because taxes are booked as revenue when committed in July and create receivables; he suggested the committee could be shown…
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